The Institute for Supply Management (ISM) released their monthly survey for manufacturing this morning. The findings? The ISM Manufacturing Index is at its highest level since May 2004.
How about business prices? They are now the highest since May 2011.
The last time ISM prices were this high were followed shortly by the only time that “inflation” (Core PCE prices YoY) were above 2% since The Great Recession.
Here is the report summary.
“Was I wrong about inflation … AGAIN???????”